Acushnet Holdings Corp. (NYSE:GOLF) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 93.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,693 shares of the company's stock after purchasing an additional 9,493 shares during the period. Renaissance Technologies LLC's holdings in Acushnet were worth $1,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GOLF. Blue Trust Inc. boosted its holdings in shares of Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after buying an additional 176 shares during the period. Berry Wealth Group LP acquired a new position in Acushnet in the 4th quarter worth approximately $202,000. Heritage Family Offices LLP purchased a new position in Acushnet during the 4th quarter worth approximately $205,000. Leavell Investment Management Inc. acquired a new stake in Acushnet during the 4th quarter valued at $210,000. Finally, Corient Private Wealth LLC acquired a new stake in Acushnet during the 4th quarter valued at $210,000. Institutional investors and hedge funds own 53.12% of the company's stock.

Acushnet Stock Up 2.7 %

Shares of GOLF opened at $63.77 on Tuesday. Acushnet Holdings Corp. has a 12 month low of $55.31 and a 12 month high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $64.27 and a two-hundred day moving average price of $67.33. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 21.69 and a beta of 0.84.

Acushnet (NYSE:GOLF - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.31. The company had revenue of $445.17 billion during the quarter, compared to analysts' expectations of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Equities analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.235 per share. The ex-dividend date was Friday, March 7th. This is a positive change from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.47%. Acushnet's dividend payout ratio is 28.23%.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the transaction, the insider now directly owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 54.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GOLF shares. StockNews.com downgraded Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. KeyCorp reduced their price target on shares of Acushnet from $77.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Truist Financial lowered their price objective on shares of Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Finally, Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and increased their target price for the stock from $77.00 to $80.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $70.60.

Acushnet Company Profile

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.

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